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An FHA loan is a government-backed mortgage insured by the federal housing administration, or FHA. Popular with first-time homebuyers,
Federal Home Loan Mortgage Corporation Act – Freddie Mac – Current as of July 2010 Corporation act 3 (i) The term "conventional mortgage" means a mortgage other than a mortgage as to which the Corporation has the benefit of any guaranty,
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Mortgage loan – Wikipedia – Term: Mortgage loans generally have a maximum term, that is, the number of years after which an amortizing loan will be repaid. Some mortgage loans may have no amortization, or require full repayment of any remaining balance at a certain date, or even negative amortization.
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An FHA loan is a government-backed mortgage insured by the Federal Housing Administration, or FHA.